Jason is a recently hired service advisor at Silver Service. He has been assigned to a team of five technicians. Jason gets paid a salary plus commission based off of the production of the entire team. What type of expense(s) is Jason's payroll expense? Direct expense Variable expense Fixed expense Fixed and variable expense

Jason is a recently hired service advisor at Silver Service. He has been assigned to a team of five technicians. Jason gets paid a salary plus commission based off of the production of the entire team. What type of expense(s) is Jason's payroll expense? Direct expense Variable expense Fixed expense Fixed and variable expense

Individual Income Taxes

43rd Edition

ISBN:9780357109731

Author:Hoffman

Publisher:Hoffman

Chapter9: Deductions: Employee And Self- Employed-related Expenses

Section: Chapter Questions

Problem 2DQ: Mason performs services for Isabella. In determining whether Mason is an employee or an independent...

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Due to increased work volume at McMahon's Robotics Emporium, the owner has decided that she needs to add another payroll clerk. What type of expense is the new payroll clerk's salary? Direct expense Indirect expense Variable expense Overhead expense
Pick one answer: Due to increased work volume at McMahon's Robotics Emporium, the owner has decided that she needs to add another payroll clerk. What type of expense is the new payroll clerk's salary? Direct expense Indirect expense Variable expense Overhead expense
Assume that you are working with a payroll application that produces weekly paychecks, including paystubs. Listed below are 20 data elements that would appear on the paycheck/paystub. For each numbered item, indicate the immediate (versus ultimate) source of the item. For instance, the immediate source of the number of exemptions for an employee would be the employee master data, as opposed to the ultimate source, which is the W-4 form filed by the employee. Some items may have more than one source, as in the case of item 1. You have the following choices: Arrange your answer as follows: The items to be considered are as follows:
As you learned in the previous chapter, Olney Company is a small manufacturing firm located in Newtown, Pennsylvania. The company has a workforce of both hourly and salaried employees. In the last chapter, gross wages were computed for each employee. Adjacent to their name, each employee's gross wages are shown in the Payroll Register. The next task is computing the FICA withholding for each employee and the employer's liability. Requirements: Compute the OASDI for each employee. Compute the HI for each employee. Compute the employer FICA liability. Payroll Register Complete the steps below: Compute the OASDI for each employee. Compute the HI for each employee. Compute the totals for each tax. Note: Round your final answers to the cent. OLNEY COMPANY, INC.Employee Payroll Register For Period Ending January 8, 20-- EARNINGS DEDUCTIONS NET PAY Name Gross OASDI HI FIT SIT SUTA CIT SIMPLE Grp. Ins. Health Ins. Ck. No. Amount Mangino, R. $740.00 $fill…
TRUE OR FALSE 1. In ideal circumstances, each payroll check is delivered personally to the employee who signs a receipt for it. 2. The amount of income taxes withheld from employee gross pay is an expense to the employer. 3. The amount debited to the Work in Process account represents the amount of direct labor (at regular rate) charged to the different jobs in process.
I need to know how to record this transaction in a general journal. Paid semi-monthly payroll, which totaled $8,000, to the firm's workers, all of which are classified as independent contractors.
To determine how much to deduct from the gross pay of Jason Parker, an employee of Jensen Ltd., one would look at the earnings record. O Form TD1. O payroll register. O Form T4.
Which of the following is true about employee pay methods? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.) O Employees must request the transfer of payroll earnings to their paycard each period. Employees must be able to access the full amount of their net pay on the pay date. O Employees do not need to own a bank account to receive their pay via direct deposit. O Employers must keep a record of all pay disbursements.
The amount of time over which an employee is paid is known as ___________. payroll pay period payroll register payroll clerk
FICA taxes are a. paid by both the employer and employee b. part of the overhead c. the employment development department d. assets which are normally kept for more than one year
The payroll department is asked to make a payroll summary of the workers employed by A-Z Company. The two workers, Jane and Max work for the selling department and the rest for admin department . Jane also contributes $45 to Canada Bond Saving and has instructed the employer to deduct from her pay. Each worker contributes $25 for Union Dues and $55 for hospital insurance. Further information is given to the accountant. Weekly Pay Employees Hours worked Hourly rate $ John 52 28 Jane 43 35 Max 47 42 REQUIRED Calculate the following Gross salary of each worker Tax to be deducted if the rate is 18% Employment insurance for both employee and employer [1.87%] Canada pension for both employee and employer [4.95%] Make a schedule for the employees using the format. Journalize the pay roll information of employees only. Calculate the total contributions that the employer has to make on his employees in terms of CPP and EI
Floatin Away Company has three employees-a consultant, a computer programmer, and an administrator. The following payroll information is available for each employee: Consultant Administrator Computer Programmer. $30 per hour 1.5 times hourly rate Regular earnings rate Overtime earnings rate Number of withholding allowances 3 *For hourly employees, overtime is paid for hours worked in excess of 40 hours per week. For the current pay period, the computer programmer worked 60 hours and the administrator worked 50 hours. The federal income tax withheld for all three employees, who i are single, can be determined by adding $276.54 to 24% of the difference between the employee's amount subject to withholding and $1,692.00. Assume further that the social security tax rate was 6.0%, the Medicare tax rate was 1.5%, and one withholding allowance is $81. Gross pay Net pay $2,510 per week Not applicable Determine the gross pay and the net pay for each of the three employees for the current pay…